Andra AP fonden Lowers Stake in Crown Castle Inc. (NYSE:CCI)

Andra AP fonden lowered its position in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 19.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 89,700 shares of the real estate investment trust's stock after selling 21,200 shares during the period. Andra AP fonden's holdings in Crown Castle were worth $8,141,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Versor Investments LP increased its position in Crown Castle by 120.0% during the fourth quarter. Versor Investments LP now owns 8,447 shares of the real estate investment trust's stock worth $767,000 after buying an additional 4,608 shares during the period. Nordea Investment Management AB increased its holdings in shares of Crown Castle by 29.4% in the 4th quarter. Nordea Investment Management AB now owns 1,243,722 shares of the real estate investment trust's stock valued at $113,465,000 after acquiring an additional 282,821 shares during the period. Oak Thistle LLC acquired a new position in shares of Crown Castle in the 4th quarter valued at $1,231,000. Avanza Fonder AB purchased a new stake in Crown Castle in the 4th quarter valued at $3,083,000. Finally, Fisher Asset Management LLC boosted its stake in Crown Castle by 4.2% during the 3rd quarter. Fisher Asset Management LLC now owns 5,088,017 shares of the real estate investment trust's stock worth $603,592,000 after purchasing an additional 203,442 shares during the period. 90.77% of the stock is owned by hedge funds and other institutional investors.

Crown Castle Price Performance

NYSE CCI traded down $0.79 during mid-day trading on Tuesday, hitting $97.73. The stock had a trading volume of 3,416,033 shares, compared to its average volume of 2,539,343. The company has a 50 day simple moving average of $90.54 and a 200 day simple moving average of $101.65. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43. The company has a market cap of $42.47 billion, a price-to-earnings ratio of 34.66 and a beta of 0.89. Crown Castle Inc. has a 52-week low of $84.20 and a 52-week high of $120.92.

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Crown Castle Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a $1.565 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.26 annualized dividend and a dividend yield of 6.41%. Crown Castle's dividend payout ratio is presently 221.99%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Citizens Jmp upgraded shares of Crown Castle to a "strong-buy" rating in a research note on Monday, January 27th. Deutsche Bank Aktiengesellschaft dropped their price target on Crown Castle from $116.00 to $96.00 and set a "hold" rating on the stock in a research report on Thursday, January 23rd. Jefferies Financial Group cut Crown Castle from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $127.00 to $84.00 in a research report on Thursday, January 2nd. Barclays raised Crown Castle from an "equal weight" rating to an "overweight" rating and dropped their target price for the company from $117.00 to $104.00 in a report on Monday, January 13th. Finally, Scotiabank decreased their price target on Crown Castle from $118.00 to $102.00 and set a "sector perform" rating for the company in a report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $108.75.

Crown Castle Profile

Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 90,000 route miles of fiber supporting small cells and fiber solutions across every major U.S. market. This nationwide portfolio of communications infrastructure connects cities and communities to essential data, technology and wireless service - bringing information, ideas and innovations to the people and businesses that need them.